Trinity Street Asset Management LLP Acquires 64,215 Shares of Ciena Co. (NYSE:CIEN)

Trinity Street Asset Management LLP increased its stake in shares of Ciena Co. (NYSE:CIEN - Free Report) by 20.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 373,399 shares of the communications equipment provider's stock after buying an additional 64,215 shares during the quarter. Ciena accounts for 1.9% of Trinity Street Asset Management LLP's investment portfolio, making the stock its 16th largest holding. Trinity Street Asset Management LLP owned 0.26% of Ciena worth $16,807,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of the stock. Bank of Montreal Can grew its holdings in Ciena by 0.6% during the first quarter. Bank of Montreal Can now owns 36,296 shares of the communications equipment provider's stock worth $2,227,000 after buying an additional 220 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its position in Ciena by 0.9% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 28,651 shares of the communications equipment provider's stock worth $1,737,000 after purchasing an additional 252 shares during the last quarter. Janney Capital Management LLC boosted its position in Ciena by 2.8% in the third quarter. Janney Capital Management LLC now owns 9,774 shares of the communications equipment provider's stock worth $462,000 after purchasing an additional 264 shares during the last quarter. Commonwealth Equity Services LLC boosted its position in Ciena by 1.0% in the second quarter. Commonwealth Equity Services LLC now owns 28,563 shares of the communications equipment provider's stock worth $1,214,000 after purchasing an additional 277 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC boosted its position in Ciena by 3.7% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 8,321 shares of the communications equipment provider's stock worth $393,000 after purchasing an additional 300 shares during the last quarter. Institutional investors own 91.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on CIEN shares. JPMorgan Chase & Co. boosted their price objective on Ciena from $56.00 to $67.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 5th. Needham & Company LLC boosted their price objective on Ciena from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Monday, March 4th. StockNews.com raised Ciena from a "sell" rating to a "hold" rating in a research report on Friday, March 8th. Finally, Evercore ISI boosted their price objective on Ciena from $57.00 to $63.00 and gave the stock an "outperform" rating in a research report on Friday, February 23rd. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $60.17.

Ciena Price Performance

CIEN traded down $0.02 during trading on Friday, reaching $47.59. 1,281,031 shares of the company were exchanged, compared to its average volume of 1,894,449. The company's 50-day moving average is $53.58 and its two-hundred day moving average is $48.27. The company has a market cap of $6.88 billion, a price-to-earnings ratio of 30.90, a P/E/G ratio of 2.07 and a beta of 0.99. The company has a quick ratio of 3.12, a current ratio of 4.29 and a debt-to-equity ratio of 0.53. Ciena Co. has a 12-month low of $39.94 and a 12-month high of $63.24.

Ciena (NYSE:CIEN - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The communications equipment provider reported $0.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.48 by $0.18. The business had revenue of $1.04 billion for the quarter, compared to analysts' expectations of $1.02 billion. Ciena had a return on equity of 9.92% and a net margin of 5.22%. The firm's quarterly revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 EPS. Research analysts forecast that Ciena Co. will post 1.53 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Brodie Gage sold 533 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.61, for a total transaction of $26,442.13. Following the sale, the senior vice president now owns 41,372 shares of the company's stock, valued at approximately $2,052,464.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Ciena news, SVP Brodie Gage sold 533 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.61, for a total value of $26,442.13. Following the transaction, the senior vice president now directly owns 41,372 shares in the company, valued at approximately $2,052,464.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Gary B. Smith sold 4,166 shares of the company's stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $49.39, for a total value of $205,758.74. Following the completion of the transaction, the chief executive officer now owns 389,275 shares in the company, valued at $19,226,292.25. The disclosure for this sale can be found here. In the last quarter, insiders have sold 107,533 shares of company stock valued at $5,808,540. Corporate insiders own 0.83% of the company's stock.

Ciena Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.